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someone, he actually reformed the tax policy -- and i look a little pink. should i consider spray tanning? this is "bloomberg surveillance ." live from world headquarters in new york. friday before the oscars on sunday. scarlet fu can barely contain herself. joining me are scarlet fu and adam johnson. >> i've got to go by the chips and dip. >> the only problem is you have to be up at 2:00 a.m. monday morning. time for the morning brief. what happened overnight. ecb president mario draghi said policymakers are committed to defending the euro area against inflation. this was in a speech late yesterday in frankfurt. in the u.k., home prices rose as the property market got a boost from low borrowing costs and easier access to mortgages. in italy, the unemployment rate rose to a record high in january. shifting over to japan, industrial production grew the most since 2011 indicating the economy is strengthening. jumble. of data but a all thisrning we got data. starting at 8:30 a.m., gdp. at gdp so look we get in theory they refined any little bit. also, personal consumption -- consumpt
. >>> u.s. senate panel investigating tax evasion has accused credit suisse of using cloak and dagger tactics that belong in a spy novel. it alleges c.s. bankers made 150 trips to the u.s. between 2002 and 2000208 orchestrate a large scale tax evasion scheme. some of the things credit suisse is accused of operating remote controlled lifts, and bankers accused of filing false visa applications pretending they were tourists and advising clients how to dodge u.s. tax laws. the senate hearing kicks off late today, shares trading at the bottom, just down just over 3% in trading today. >>> the firm came out to say it considers its insurance policies for wealthy u.s. citizens to be tax compliant. credit suisse has been preparing for investigations into its products known as insurance wrapper wrappers. the long arm of the u.s. treasury, by the way good morning, everybody. you didn't say good morning. >> good morning, sorry, good morning. >> good evening if you're watching in sipping apore as well. good e-mails coming out of credit suisse or conversations out of the investigation? >> it's a li
kind of world war ii camp. allen with al jazeera, north idaho. >>> a tax break for more than 13 million americans, president obama set to unveil the new budget this morning and tell you who will benefit the most if that proposal makes it through congress. plus you might call it thc-tv, marijuana commercials could be coming to a television society near you and life gave them lemons and they made lemonade and going to school. >>> if you think durant is the mbp lebron says not so fast and we will talk about the record in south beach. ♪ welcome back to al jazeera america, i'm stephanie sy, israel's prime minister is pushing back against u.s. diplomacy in the middle east and met with president obama on monday and discussed a framework for reaching a pack with the palestinian and netanyahu had frustration for, syria and iran and to have compromise israel must be secure and netanyahu will deliver the keynote speech to the american, israel publish affairs and apac is the largest and pro-israel lobbying group in the u.s. and as you can see libby casey is joining us from washington and good mor
billion hidden tax. that figure comes from the cato institute which, obviously, has a slant on this. first of all, when you think about it in an industry that generates about $2.7 trillion if revenue, that's a pretty low rate of taxation. but i would argue that it is really more in the nature of an investment than a tax, and it is what makes the rest of the $2.7 trillion possible. but this view of the antagonists has particularly been pervasive in health care. if you look briefly historically, teddy roosevelt first raised the issue of a national universal coverage plan in 1912 in his third party candidacy. he did not succeed. a few years later some of the states picked up the call. that brochure, i know it's hard to read the details, but on the left from 1918 was the pushback that talked about labor's socialistic attempt to take over our health care system. sound familiar? almost 100 years later. in the 1940s, harry truman proposed a similar plan. that was called socialized medicine. if you can see the puppeteer with the marionette, his two contraptions are called socialized and medicine,
later. ryan chilcote live on the phone from kiev. next, i'm going to take a thatat the tax price rate zara has to thank for that. ♪ >> first. bloomberg. in london.k barton this is "on the move." we are streaming live on your tablet, your phone and now any windows phone as well. it has the best profit margins in the industry, at least in part due to tax loopholes. loop holet tax benefit from? claimis -- a sickly, they the rights to the brand names of the in the text brands -- of the brands. when they have stores in rome or london or paris, the subsidiaries have to pay substantial royalties into this unit in the netherlands. that has the effect of moving billions of dollars of income, taxable income out of those countries and into the netherlands and switzerland, where they have a tax advantage. >> i suppose that affects margins in a different way in different countries, to? countries,fferent too? >> in the netherlands are switzerland they have very low tax rates. in italy and the u.k. and france and germany, it european markets their profit margins have been between three percent an
," a capitol hill heavyweight tells nancy cordes about his new plan to revolutionize the tax code. >>> plus dr. david agus with the controversy over fertility treatment. does it go too far to stop birth defects? >>> we begin with this morning's "eye-opener," your world in 90 seconds. >> we saw the news that the storm was coming so we went down to the city yard to pick up sandbags. >> the west coast braces for a washout. southern californiaens loading up on supplies ahead two of pacific storms. >> many people worried about mudslides. >> water comes over, it looks like niagra falls. >> dropping temperatures from the midwest to the east, 20 to 30 degrees below normal. >> adding to the cold-weather problems, ice jams. >> you look at it and it's mass destruction. can't stop the ice. >> jan brewer won't say if she'll veto a controversial bill that allows arizona businesses to deny service to gays and lesbians. >> there's a lot of things we can bring into the state, and this just doesn't help at all in any of those. >> general motors links more deaths to a faulty ignition switch,
u.s. tax evaders. we will talk credit suisse after the break. ♪ >> welcome back to "on the move ." i am manus cranny at bloomberg's european headquarters in london. these are the bloomberg top headlines. from being thene most attractive carry trade that in the emerging markets to the worst in the space of two months. as the central bank's efforts to weaken the currency caused volatility to search. the exchange rate tumbled the most since 2010 earlier this week. losing money for investors who borrowed dollars to buy the yuan. angela merkel is expected to call for a stronger european union during her visit to the u.k. today. the german chancellor arrives in london later. she will address both houses of parliament and have tea with her majesty, the queen. >> i think she is going to try to convince the u.k. to stay in europe. that there are more advantages to stay in than to get out. you can't really pick what you like and not take the rest. i think that is the main message. yatsenyuk won the support of ukraine protesters in kiev to the an interim cabinet and averted a fraud. he says law
of dollars in offshore tax evasion. your goggles, upbeat about business in the u.s. even as americans get more of a taste for craft through -- craft brews. airbus stock climbs higher as the company works to boost production on its best-selling a320. good morning. welcome. you are watching "the pulse." i am guy johnson. francine lacqua is off today. what do we have for you on the show today? it is all a board brand italy. monocle magazine's latest issue is all about the country. we are live with the editor-in-chief tyler brule. we're going to cover a lot of ground. italy, beautiful but problematic. what do we do with it? let's begin with our top story of the day, and explosive report by u.s. lawmakers on credit suisse. according to a senate committee, the bank helped american customers hide as much as $10 billion in assets from the irs. that is more than double the amount previously known. hans nichols has more on the findings. he joins us from berlin. >> the numbers are shocking. more so than the numbers, the details, the salacious aspects of this report. you had secret meetings in secret
progress on some sort of a national property tax. given the property tax, although it seems residential, will that have knock on effects through commercial? >> i think they've been talking about that. every year at this time, people grabbing headlines. what will pay attention to government policy? it's not surprising they've been talking about property tax. that's been anticipated for many years. i think the market has digested that. everybody expects it to be gradual. so it's important to start having property taxes. if you hold property in china, there's no property costs. if your home is sitting there empty, there's no penalty because you don't really feel hurt. that's why the worry is there are so many buildings and not being occupied and not being neutralized. and so having introduced the property tax will deal directly with that. now, continuing to hold the property if there's a tax you need to pay every month? >> highly rated u.s. companies sold more than $19 billion in debt on tuesday, the busiest day of the year. they looked to take advantage of recent rallies in u.s. treasurie
next week. inditexp this hour, fashions a tax loophole. we begin with our main subject of the morning. the situation in the ukraine is developing quickly. isted president yanukovych holding a press conference today from russia. the u.s. government tries to pull together international funding to avoid a default. let's go to kiev and our reporter there, ryan chilcote. walk us through what has been happening in the south of the country in the crimea this morning. >> it is certainly seizing headlines. i am at the ukrainian central bank with the prime minister and the head of central bank are giving a joint briefing about the state of the country's finances. the prime minister left early. i did have a quick conversation with him, one on one, and they are studying the situation in the crimea. they're trying to figure out who these people are. what we're talking about is that at five :00 this morning, another group of armed men -- at 5:00 this morning, another group appeared at anve in the crimea. we have two eyewitness reports that there is a group of somewhere between 50 and 100 armed men
game-changing ideas, dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way r your business to go. up. nd out iyour business can qualify at melissa: it's a big day for the markets. investors are selling stocks. energy is seeing a large move into the green. one of my favorite guys, tome kloza, chief oil analyst at gas buddy joins me on the phone. tom, great to talk to you. tom, this is an energy story, isn't it? >> it is but i think there is a lot more important things to worry about in the u.s. and probably we don't need to worry about higher gasoline or natural gas or even heating oil and diesel prices because of this. it is really something that's going to impact our european brethren. melissa: why are we seeing, i'm looking at crude oil right now, i'm seeing a run-up of 2.25%? >> russia produces about 10.6 million barrels a day of crude and there is a threat that things could break down a little bit further the
. >>> tonight on "nightline"" really bites. the couple pleading guilty for fraud and tax evasion. the cost of fame may be steep. >> i can't just be upset and just go in a room and lock the door. >> is there a curse of reality tv? the giudices are a lock line of stars who experienced fame, fortune and then disaster. recipe for riches. millions are up for grabs. meet the home chefs who say there's real money to be made just by making dinner with the winning recipe. and sobbing in court. the blaze runner breaks down. oscar pistorius on trial for murdering his model girlfriend. what made the olympian hang his head today. >> good evening. she is best known for throwing tables around on "the real housewives of new jersey" but tonight, teresa jiudice and her husband are facing possible jail time pleading guilty for fraud. >> arriving at a federal court in newark, new jersey, holding hands, teresa and joe giudice today pleaded guilty to conspiracy to commit mail fraud, wire fraud and bankruptcy fraud. >> they both admitted to a federal judge that over the better part of a decade they wer
' work experience. so it's just the first step to getting on the ladder. this is what typical anti tax payments titanic. when you've got to find a job aforementioned doesn't cause all of what the company filed but toughness and now. melbourne cbd fun so i had to stop again. still some way to go for the job says the plant until a man on the throne next week. she may cause the fourteen years nineteen ten. silent recruits working to come back through isolation has called on governments to end the economic policy of closing rural country stations and post offices. ha its compound in virtual isolation of older people in rural areas. rage active center six minute break in county clare formally opened today providing a day care service for vulnerable and auschwitz hundred people in the surrounding villages that can moderate the kitchen and craft show. people like sixty eight rolled the dough to the maxwell who lives alone and says the service was bad he needed to have her and other older people not feel isolated seconds left on its own line of him. i don't need to be coming here to be on hand
.9 trillion increased spending plan for employment, education and job training programs. her tax breaks for about teen .5 million americans. how is he going to pay for it? taxes for families. he laid out his plans at a washington dc elementary school. >> i laid out an agenda to restore opportunities for all people. that nod the principle matter who you are, no matter where you started, you can make it if you try here in america. this opportunity agenda is built on four parts -- more good jobs and good wages from a making sure we are training workers with the skills they need to get those jobs, guaranteeing every child access to a world-class education, and making sure our economy is one in which hard work is rewarded. the budget i sent congress this morning lays out how we will implement this agenda in a balanced and responsible way. this budget adheres to the spending levels of both houses of congress, but also builds on that progress with what we are calling an opportunity, growth, and security initiative that invests in our economic ortiz in a way that's fully paid for by making smar
of the nate -- april 1 tax hike. ukraine's new prime minister get straight to work on securing the bailout worth as much as 15 alien dollars as tensions -- $15 billion as tensions flare. welcome to "countdown." anna is off today. bloomberg reporters are standing by across the world ready to deliver the stories that will drive your day. john has more on what we can expect from the ecb. john dawson has the highlights from hong kong. , set toe hathaway report record profits tomorrow. latest. hyde has the later, the uk's third-biggest insurer. julian roberts will join us after the earnings break at 7:00 . hollywood make it all of the attention when it comes to movie making, but what about nigeria's film industry? we will hear from the man behind the so-called nigerian netflix. that is later. chair janetrve yellen said the central bank is likely to keep trimming asset or justice. policymakers -- asset purchases. >> what we need to do and will be doing in the weeks ahead is to try to get a firmer handle on exactly how much of that set of soft data can be explained by weather. is not mostly weath
with a checkered history and it is a $360 million and they say, $230 million, but $360 million pre-tax the. okay. >> and you think it is important because you look at $360 million pretax fraud resulting in a $235 million after-tax writedown and it gets complex. >> it is complex. >> but related to transactions between penmax and vanimax who is a big subsidiary? >> yes, because i felt that citi is the emerging market bank, and this is the jewel of the crown, and this is a company troubled for a long time. there was a corruption investigation started february 14th, and citi does allude to that, but when you are the emerging market bank, what you want is 6% to 7% growth routine and you don't want corruption, and this is a throwback and this is a oceanographica, and it is not a company you want to be affiliated with and they can sell assets, but it is a black mark, and the stocks started trading down when the investigation began and all of the financials are weak, but this is disappointing. >> but time again we have a company admit to or accused of having trouble doing business in this specific part
it as a tax evasion case. like i sold it, didn't report his taxes. we intervened. we, the state department intervened. based on the washington principles, basic unit which event as well, and what michael is done, the work nancy has been. we said this is not just a tax evasion case. look at the washington principles and publish the art which initially they wouldn't do, but now, to the great credit, about 450 pieces have been published on the internet so claims could be made. been issued is, the question u.s., the statute of limitations. i can't guarantee this is going to happen but we urged the technical defense is not be used. that's what i feel so strong our meeting should set an example and they are considering an effect creating a new law that would waive the statute of limitations as to the art that's in -- whether they will do it or not still remains to be seen but they publicly indicated they are looking at it and h it would certainly be a wonderful thing. it would be constant with the washington principles so this story never end. it never end. >> let me say about this, i hate to pr
-barrel shotgun. boom! how they can justify raising taxes on the middle class has been buried the last four years. mom lived in long island for ten years or so. god rest her soul. and although -- wait, your mom's still alive. it is your dad passed. chuck graham, state senator is here. stand up, chuck. god love you. what am i talking about. you cannot go to a 7-eleven or a dunk hyun -- or a dunkin' donuts unless you have a slight indian access. i'm not joking. thank you, dr. pepper. >> those are some of the types of things you'll see in his ads if he runs for president in 2016. >> he laughs about his mistakes. can't we all dohat once in a while, brian. >> he has career advice for women. >> this is about freedom. how many of you are single women with children in a dead-end job? you're there because of your health insurance. you would rather have the opportunity to spend the next couple years with your child until they get -- if that was your choice -- until they get into primary school. you're now trapped in that job because if you leave, you lose your health insurance. now you'll be able to do, ma
americans dodge taxes. hans nichols has more. the accusation is pretty shocking, isn't it -- $10 billion. how did the committee arrive at this number? i sat down with brady dougan a couple of weeks ago. he is tightlipped on the issue. >> the committee spent six years on this. it is a some hundred 70 page report. talk about numbers alone -- credit suisse has turned over the names of 238 banks accounts. the allegation in the report is that there were 10,000 visits by clients to one branch inside this a wreck airport. when you go to the zÜrich airport, we buy chocolate. apparently it is where you go to do your banking as well. they had 1800 employees that were dedicated to serving u.s. clients. the details are explosive. a fake visa applications, document shredding, you have secret meetings in secret elevators. you have inc. statements being theed to clients inside magazine "sports illustrated." it is remarkable. what brady dougan will have to account for is that if there was a culture at the bank that was trying to flout u.s. law. why did they set up the meetings? why did they have an air
infrastructure program is a nonstarter. you are not going to raise the gas tax, you are not going to restructure the corporate tax code in the near future. but if oil prices can stay where they are or go up a little bit and can fund the development of a lot of energy infrastructure, that will drive road, rail, and other transportation infrastructure we're talking about. you need a private sector impetus. dry?sentially the pot is the piggy bank is empty? >> it pretty much is. highway funding is done. vehicle miles traveled have been dropping. gas tax revenues are falling. the need for a public-private partnership. you have private money coupled with public management. why can't we get that done? >> that does happen. but the economic incentive has to be there. we start natural gas exports and crude oil exports. the prices equalize between the center of the u.s. where the crude oil piles up in barrels and the rest of the world -- you can have it better environment for private investment and international energy agency's have estimated that it is in the trillions of dollars, the infrastructure inves
but then germany and austria was much more through the taxation offices having to pay certain taxes. and later as we move into the occupied countries, poland and holland and working with the banks that were taking over the jewish assets, and i think the most well known organization is easily referred to as the er or and that is an arm that was originally to be confiscating the propaganda that would be something the nazis were trying to subdue and it turned into an arm for confiscating the assets in france and belgium. so i think it's important you do is the term nazi try to keep inp in mind it is a bureaucratic effort from the top down. from where it was going to go as we all know hitler had to go and then the other leaders were collecting because they thought it showe showed them to be civid people and they were collecting them for themselves. but like any regime, i think that like many other nighties really -- not seized. could you stick to their advantage. >> did they support the war effort? >> they definitely saw the currency of the art, so the art that was to the regime and that you are f
: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at >>> welcome back to "new day." doctors in california say calls are flooding in now about a mystery illness that has already paralyzed five children. and health officials say there could be some 20 other cases. but so far, they haven't found a link. well, doctors may be no closer to finding out what's behind this polio-like disease. one boy has found hope and may actually be getting better. here's the details. >> he makes it look easy, but for this 10-year-old, this takes concentration. >> saturday he lost everything. and that's when he got -- we took him to the hospital. so it happened in 24 hours, quick. >> that was september 2012 when the boy lost all ability to move his left arm. it started in his shoulder and spread all the way to his fingerti fingertips. >> they took an mri. that's whe
's mistake was to allow this to be treated as a tax matter by tax officials for the first two years and only disclosed when reporters got wind of it and the germans came out and discussed it. by then the court of public opinion back to the power of that had cast them in a bad light for not grabbing hold of this and seeing what an explosive topic it was. more times have to pass to what identify what these works of art. numbers are speculated, 1 billion euros are ridiculously too high. in particular no one has seen the works of art, the tab complete list of the works of art, how anyone can come up with a value, pretty divine guess at this stage but they're worth a lot of money. is a case that needs to be resolved and bringing visibility to this statute of limitations problem in germany limiting a period of 30 years that is going to have to be revisited and this in the process of being discussed. there's a lot to come on this, an interesting story that underscore is that a lot of works of art from world war ii are out there and beginning to show a. >> host: bridget in washington d.c.. >> caller
including fraud and tax evasion. we are "up all nightline" with abc's amy robach, who spoke with theresa giudice about how it all came crashing down. >> reporter: arcing at federal court in newark, new jersey, teresa and joe giudice pleaded guilty to conspiracy to commit mail fraud, wire fraud. >> both admitted to a federal judge that over the better part of a decade they were engaged in a scheme to defraud. >> reporter: the reality tv stars lavish lifestyle was funded partially on ill-gotten gains. teresa's attorney read a statement from her. >> today i took responsibility for a series of mistakes i made several years ago. i am heartbroken that this is affecting my family. >> reporter: it was just another page in a tangled history of reality tv. in a series known for its over the top theatrics. >> stop hurting! >> get off, be a man, stick with your blood. >> i'm not sticking with scum like you. >> reporter: she is perhaps the most recognized and controversial of them all. a woman famous for her excess. >> my house is pretty much all marble, granite, onyx. >> reporter: as she is for her
what he describes is an armed occupation at the airport. >>> luxottica is hit with tax issues in the fourth quarter. >>> there is speculation the central bank will widen the country's trading ban. >>> and janet yellen says she needs a firmer handle on the data before she can blame the weather for recent weakness. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >> warm welcome to the show. plenty of moving towards surrounding ukraine. >> absolutely. we just heard in the last few minutes the ukrainian prime minister separating out the political noise we're hearing for the economy. he said they're taking clear steps to provide the ukraine with international financial aid are being taken right now. they accept the ukraine is independent. they hope to boost reserves and stabilize the situation there. they talk about the imf here, too. they expect record credit instruments from the imf to increase saying to them that they will provide funding in the next couple of days if they can agree with it. and a key priority, of course, is
-year earnings interest before tax, 3.6 billion euros. dividend to $.75. the game for the charges, here we go. 434 million charge for the a350 and restructuring. this is the double long-haul plane. if you are going to america or another nice destination, this is the plane. it will go head-to-head with the dreamliner and costs have been mounting. restructuring, they have put this unit into one. you've seen the charges, 434 million euro or the a350. calexico is a huge range in terms of analyst expectations. -- >> it is a huge range. i'm wondering how that will go down with investors. of the >> they are pitting the airbus at the front of the company. >> hence the new name. we don't talk about aeds anymore. gave the employees t-shirts apparently when they relaunched the name at the end of last year. airbus can fit on a it t-shirt itsn a t-shirt but aeds in true form cannot. u.s.nts on brazil and the and what they are looking for ahead of earnings. or fifths of profits come from the region. offset by a winter. brazil beer volumes and they have seen solid growth in china. the mexican bee
consistently denied the claims credit and tax. yes the un policy chief and teach him on his said the biggest town in the country is facing is coming in this and he also said this on to defeat a strong contender against the cpc that ministerial candidates running to what the play begins on tuesday and this includes the move and she too was ahmad the body on our skin b. any dee was going and getting off course in edmonton into the trees in new delhi on monday that come in and isn't he so didn't understand that option. some of the couple have digested of every semester one. the garden this cuts out a magazine if adequate you'll be up to oakley but the good thing taken out of the low man on the potty like a family. what did you take the keys to the customer. the views of the work ethic and he pushed the toll that this canada cup title in security. but the semester he loses it the main intentions in the country have been the team appointed by the sparkling teeth and montages. the stock. don't get me to me. not green facade into an awesome model can be to send out the facade into a secluded beach
governments across ukraine. on the other hand to improve the efficiency of government. from taxes, to preserve public order. the balance is difficult to achieve with the government which is now quite weak. >> given russia's position in terms of the the amount of troops on the ground, how difficult is it going to be do you think for ukraine to see the russian troops lead? >> that's the challenge. ukraine in the midterm or perhaps in the long term will try to work with the international community to militaryize the area. obviously russia would not want to do that. but i guess that's negotiable. >> doesn't president putin have a report that the deal originally negotiated between yanukovych and the three foreign ministers was thrown out of the window 24 hours later? >> things change, right? >> they sure did. he left. >> he left. he didn't do what he was supposed to do. so the deal was void. so i guess the thing changed too quickly. again, russia didn't sign the deal. so i guess it's the european minister should have been sort of worrying about it, not russian side. >> very briefly, does ukraine fe
is that syria has agreed to a new plan to remove all of its chemical weapons by april. taxed with destroying the pace of removing chemicals is as last picking up. during an attacks on eastern damascus. more than 1,000 people russia helps bring about a deal prompting to destroy the chemical arms and the time line was drawn up from when syria would ship out for it to be more than 1,000 tons. it was supposed to have given up it's entire arsenal, but the deadline was missed. the head of the u.n. commission overseeing the says progress which is pretty fast is now being made. >> as you know, the authorities have submitted the revised plan with a timetable of around 60 days, in order to accelerate, and to intensify their efforts to ensure timely remove for on ward destruction. and we are working very activity, and we anticipate a lot of action in the month of march, and so for today i was able to report to the executive council, as tomorrow to the secure council that as of today, nearly one third of syria's chemical weapons has been removed or destroyed inside the country, so it is a benchmark. >>
-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at and a hotel is the perfect place to talk to you about hotels. all-you-can-eat is a hotel policy that allows you to eat all that you can. the hotel gym is short for gymnasium. the hotel pool is usually filled with water. and the best dot com for booking hotels, is it's on the internet, but you probably knew that. or maybe not, i don't really know you. bellman: welcome back, captain obvious. captain obvious: yes i am. all those words are spelled correctly. afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection. and because usaa's commitment to serve current and former military members and their families is without equ
if you will or not pay taxes. >> for years the italian authorities could do nothing. but one when tough banking regulations were imposed across europe in the wake of the financial crises, only the vatican bank resisted. so the italian finance police put the bank under close surveillance, using all the tools at their disposal. they monitored transactions in and out of the vatican bank. they made their first break through in the summer of 2010. >> in that case, it happened that an italian bank received a request from the vatican bank to transfer 23 million euros. the bank of italy requested details for both payee and recipient in the transaction and the reason for the transfer. the vatican bank failed to provide adequate information so the bank of italy decided to freeze that money. the whole european banking community was up in arms. the account holders that included the iranian and iraqi embassies appears the money would be used for laundering. one bank after another refused to do business with the vatican bank until it cleaned up its act. >> woodruff: yesterday, pope francis announced
-- or not pay taxes. >> narrator: for years, the italian authorities could do nothing. but when tough banking regulations were imposed across europe in the wake of the financial crisis, only the vatican bank resisted. so the italian finance police put the bank under close surveillance. using all the tools at their disposal, they monitored transactions in and out of the vatican bank. they made their first breakthrough in the summer of 2010. >> (translated): in that case, it happened that an italian bank received a request from the ior to transfer 23 million euros. the bank of italy requires details for both payee and recipient in the transaction and the reason for the transfer. the ior failed to provide adequate information, so the bank of italy decided to freeze that money. >> narrator: the whole european banking community was up in arms. with account holders that included the iranian and iraqi embassies, there were fears that the bank could be used for money laundering. one bank after another refused to do business with the vatican bank until it cleaned up its act. the pope was increasingly
their secrecy but tax cases have threat tight end industry. could storage be an alternative? >> this is the future of the country. to store data, the next currency. >> considering an i.p.o. on the nasdaq with plans to build bunkers like this one all across switzerland. >> you will update and upgrade to your personal cloud here in this mountain. >> will the echoes compromise the data? >> no. >> but it won't leave the mountain. >> hans joins us now. hans, i have to say, you go around switzerland and there are lots of these bunkers there, the mountains just riddled with them if you're a swiss national, you spend a bit of time in the army, you spend a bit of time in them. how big can this get? >> this one was three stories. there are 60,000 bunkers that can be converted. maybe about 200-300 meters deep. room after room. it was hard to get a real good sense. they would not give us a map. i asked for one. we were just walking around. they are giant caverps full of mountain water, pools. room after room. the important thing is what they were talking about, given what happened on ca
they have higher taxes on gasoline and energy use and the idea that america would go down these other form of policy choices he sees america as a different country and fox is a network speaking to those that feel that america shouldn't be open to other waves of governing itself. so race is one part of it and the other is that obama validated addressing the election and he's now done away with this idea that we should have affirmative action for civil rights but it's not limited race. race is just one issue that he uses. >> host: you don't really know, do you? >> guest: i am addressing this notion that he's had the presidency means we don't have to have a civil rights movement anymore. this is not an issue of black versus white specifically but it's a view about the politics. the idea that as a country we should have the political sensitivity of the legacy of the racial history and if you look at the stories they pushed around the time in the 2008 election we are short on time but they are pushing the new black panther story and the idea that the white house wasn't punishing groups that wer
. it goes into british tax havens and prophecies. >> it is hard to true all of that. >> is easy to prove. russian officials have income declarations -- declarations. is clear, looking from russia. >> that is ok. this is illegal. >> according to the russian is for illegal0% activity.'s move >> let's have a look at the trading partner. the largest foreign investors are the british virgin islands. >> this is what we want to get the bottom of. let's try to figure out what and view is on the ukraine how this crisis will pan out. >> vladimir putin feels that he was pushed out of deciding the ukraine's fate. what happened was not a blitzkrieg. rents -- thehe west was thrown off balance. imposed,see sanctions we will see rapidly deteriorating rates. happens, if they decide that they do not want to carry on with this, how influential committee on vladimir putin westmark >> his billion-dollar bets with his regime is that there is too much money involved to impose meaningful sanctions. imposednited states has visa restrictions in the past. -- >> russianna money is not in the united states. ar
up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at >>> the social network giant facebook has hired a community safety police officer for three years for the price of $200,000 a year. the officer will be on patrol in menlo park. that brings us to this morning's squawk on the tweet, now that facebook has hired a cop for menlo park police should be on the lookout for tweeters tweeters @squawkstreet we'll air your responses throughout the morning here on cnbc. >>> when we come back one start-up whistle is making wearable technology yeah for dogs. it measures your pet's activities streams the information right to your smartphone because, hey, you got to know how fit your dog is. it's now available in petsmart and the ceo of whistle will join us next. as we go to break, take a look at petsmart
, definitely. >> you're right. >> there is no sales tax in this city of portland, except on hotels and car rentals? >> portland, oregon. >> i agree with her. >> i didn't know that. >> yes, it is. this bear shown as a full screen broke into a elementary school south of which portland? >> maine. >> you're the smartest. that's because fred is not here. fred is zoned out. >> wait, wait, i vote that one is oregon. >> and you're wrong. >> again! >> all right. well, anyway, kids, the new season of "portlandia" kicks off tonight". >> thank you, guys. >>> the amazing results of today's "ambush makeover." >> and how three real women are going to get to look in the mirror and say i love myself. >> what does that mean, real women? >> you know, real. not fake. not mannequins. >> right after this. ♪ [ female announcer ] we lowered her fever, you kept the midnight watch. infants' tylenol® reduces fever and pain while being gentle on the tummy. but for everything we do, we know you do so much more. infants' tylenol®. after their new artisan grilled chicken ciabatta sandwich goes down, productivity goe
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